Standard Life is introducing a series of upgrades to its pension pricing.
Standard Life is implementing a number of price cuts on its premium AMPP and SIPP personal pensions, resulting in lower costs. The majority of customers are expected to benefit from a 0.5% discount. Discounts between £25,000 and £500,000 are available to both new and existing customers who hold insured funds in AMPP and SIPP plans.
A typical SIPP client with a plan value of £100,000 who is invested in the Standard Life Sustainable Focus 3 pension fund will have their effective fee drop by £200 annually.
These personal pension proposals provide investors with a wide selection of more than 300 insured funds, as well as additional choices for Retail SIPPs such as mutual funds, stocks and shares, savings accounts, commercial property, and DFMs.
While at retirement, consumers can select from a variety of flexible, income drawdown alternatives, including drip-feed and customised drawdown, the payment possibilities range from annually to monthly or on an ad-hoc basis. The proposal is also digitally enabled, and a web dashboard can be used to control the functionality.
Standard Life Managing Director of Retail Intermediary Chris Hudson says: “Improving our pension pricing and modernising our online presence is part of our renewed commitment to the adviser marketplace. We are looking to make improvements in all aspects of our offering and show our long-term commitment to advisers by improving their ability to do business with us. This is the start of that process and part of our strategy to invest in the support we provide to advisers to meet the needs of their clients.”
